In some exciting news, I’m putting on a webinar this winter through the City of Plymouth. In February I will cover 4 sessions titled “Individual Investing 101.” The cost is only $20 for each course which I think is a great deal for 4 hours worth of information. You can find and register for those at this link. All 4 sessions are being held on Zoom so it is available to everyone no matter where you live.
https://plyregister.plymouthmn.gov/wbwsc/webtrac.wsc/iteminfo.html?Module=AR&FMID=15798632
Investing is something I’ve covered extensively on my blog and I will say I’m probably coming up to the time when I will let the subject pass and move on to whatever comes next. I’ve hit the topic of “How” fairly often and you can find those links here, here, and here. It also will be covered quite extensively in my upcoming webinar. What I haven’t hit as much in my blogs is the why to invest.
Why Invest?
Unfortunately, being financially independent or wealthy does not guarantee happiness. In fact, for many people it does little to move that needle or is a complete letdown when it actually happens. I’m TERRIFIED of whether I will mentally be able to handle quitting my job and really working through the lack of structure and clear purpose.
Yet, the whole purpose of investing is to have the freedom to no longer NEED to work. Many people have accomplished this, but not everyone finds happiness in that feat. Many end up going back to work at their old job because life without work often feels purposeless. I can attest to this. I spent 2 months without a job after I quit teaching and it was really disorienting and difficult. I lacked very much purpose and found it hard to accomplish anything even though I had plenty of time.
This lack of purpose made me feel like I never wanted to experience any type of unemployment ever again. The structure of work is safe and comfortable. If you aren’t working, it can be very difficult to be happy if you feel useless.
I’m not the only person who feels this way and fears what could happen if I ever could actually afford to quit my job. I don’t really love the idea of sitting at home and feeling anxiety all day for years. I know what this feels like and I don’t want to live that for years. Thankfully, that’s why I’d have to make sure I was prepared for all of that. Check out this blog to read someone else’s thoughts on this topic.
There has to be a reason you want to become financially independent and it CANNOT be that you HATE your current job and just want to get out. If this is the only reason, you might be very disappointed in the outcome. Rather than running from something, you really ought to be running toward something. Something that gives you purpose. Something that fills you up and makes you excited to be alive.
What Am I Running Toward?
I want time to create music, write books, and whatever else I become interested in. I want to volunteer at my church and in my community without having to feel like I’m just squeezing it in on the edges. I’m fine with being busy, but I don’t want to HAVE to be busy EVERY SINGLE WEEK. I want to be able to give my best hours to my wife and creative projects and not spend those hours during the day at work. I know that I am wired to be creative, but I really want to be able to weave that into my life every day and not just on the margins when I’m exhausted.
What are you running toward? Is it more family time? More time to read and relax? Travel? Write? You need to be working toward another purpose while finding purpose in your current life.
One of my biggest goals right now is to find peace, contentment, and joy right where I am at. I cannot live for the future. I can look forward to what the future may look like for me, but I need to be good physically, mentally, spiritually, and emotionally right NOW. That isn’t something that will just get better if I quit my job.
The WHY is More Important Than the HOW
The “how” of building wealth is fairly straightforward. High savings rate. Right mindset. Patience over time. The power of compounding returns. Throw in a few great stock picks and who knows what might happen. Assuming the market grows as it has over the past 100 years (no guarantees here), the building of wealth is almost inevitable.
The “why” is the purpose for it all. The money doesn’t really mean anything. It’s more about the doors it opens. The risks you can afford to take. The freedom you never realized you could actually have. It goes much deeper than that though.
My reasons for living certainly always end up back at Jesus, my Savior. I also believe that I was created to do certain things in this world. I see how each and every day and year that story of grace continues to build. My path isn’t always clear, but I know that God has a plan for me. He also gave me gifts and talents that I really want to apply in a variety of ways. I see how God uses those skills today in my work and hobbies and I see how he’s building and shaping me into the person I will be in the future. I continue to be humbled every day by God’s wisdom, a wisdom that brought me to this moment where I can share what investing knowledge I’ve gained with others through the upcoming webinar.
What’s your purpose for seeking greater wealth and freedom? Identify that NOW. If you know why you have a goal, you can be ready “when the iron is hot.” Find a life of joy and fulfillment now and those habits will likely carry over into your future whatever that may look like.